Stroke Imagine Processing Software Market Size, Share & Trends Analysis Report By End-User (Hospitals and Clinics, Scientific Research Institutions.), By Application (Haemorrhagic Stroke, Ischemic Stroke), By Installation (Desktop, Mobile Phones and Tablets) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global stroke imagine processing software market size was valued at USD 164.7 million in 2023 and is projected to reach USD 310.6 million by 2032, registering a CAGR of 7.3% during the forecast period 2024-2032. The growing occurrence of strokes and the demand for improved medical imaging solutions have fuelled the growth of the Stroke Imaging Processing Software Market. 

Stroke imaging processing software refers to specialist medical software applications that evaluate and process stroke-related imaging data. Medical imaging, such as MRI and CT scans, is critical in the diagnosis and treatment of stroke patients. Stroke imaging processing software helps healthcare practitioners interpret these pictures, determine the location and severity of strokes, and make fast and correct decisions about patient care. These software technologies increase diagnosis accuracy, intervention time, and patient outcomes in stroke management.

The global stroke imagine processing software market is experiencing strong expansion, driven by the rising incidence of strokes and the critical demand for enhanced diagnostic tools. This market focuses on software solutions for processing and analyzing medical imaging data linked to strokes, using technologies such as magnetic resonance imaging (MRI) and computed tomography (CT). The growing awareness of the importance of early and accurate stroke diagnosis, combined with ongoing advances in medical imaging technology, has fuelled stroke image processing software use.

Highlights

• Hospitals and Clinics account for the largest market share based on end-users.
• Ischemic Stroke generates the highest revenue share of the market by application.
• Desktop holds the major market share by installation.

Market Dynamics

Global Stroke Imagine Processing Software Market Drivers:

Increasing Incidence of Stroke

The rising global occurrence of strokes is a significant driver of the Stroke Imaging Processing Software Market trend. As the frequency of strokes rises, there is an increasing demand for sophisticated diagnostic tools, such as imaging processing software, to aid in early and precise stroke diagnosis. According to the World Health Organization (WHO), strokes are the world's second-greatest cause of mortality and the third-leading cause of disability. Every year, around 795,000 people in the United States suffer a stroke, with approximately 610,000 of those being their first. Within five years, about 185,000 stroke survivors will suffer another stroke. 

According to a paper published in Lancet Neurology in October 2023, the number of strokes is anticipated to rise worldwide, particularly among young people. According to the analysis, low- and middle-income nations would bear the brunt of the stroke burden in coming years. Globally, one in every four adults over the age of 25 will suffer a stroke during their lifetime. Every year, more than 16% of all strokes occur among people aged 15 to 49, and more than 62% of all strokes occur in people aged 70 and younger. 

Moreover, the worrisome increase in stroke incidence worldwide highlights the critical role of modern diagnostic technologies such as Stroke Imaging Processing Software. The desire for early and accurate diagnosis is essential to tackling the public health burden posed by strokes, which is pushing the use of novel imaging technologies.

Global Stroke Imagine Processing Software Market Restraints:

Data Security Concerns

Data security concerns are a crucial barrier to using Stroke Imaging Processing Software. Medical imaging data's delicate and confidential nature, such as patient photos and health information, raises concerns about unauthorized access and security breaches. 2023 has been a record year for healthcare data breaches, affecting about 133 million people. This is more than two times the number of violations in 2022. For example, In 2023, East River Medical Imaging in New York suffered a cyberattack that compromised its network for three weeks between October and September. During this time, hackers stole files comprising 605,809 individuals' protected health information (PHI). 

According to a study published in the Journal of the American College of Radiology, worries about data breaches and patient privacy are significant impediments to adopting imaging informatics solutions, such as processing software. The United States Department of Health and Human Services (HHS) disclosed many examples of data breaches in medical imaging systems, highlighting the need for improved healthcare security standards. In November 2023, the Department of Health and Human Services (HHS) informed the Office for Civil Rights (OCR) of 61 significant data breaches. In 2023, more than 540 companies and 112 million people were affected by healthcare data breaches notified to the HHS. As a result, the data security concerns associated with Stroke Imaging Processing Software require a proactive approach to installing strong cybersecurity safeguards. 

Global Stroke Imagine Processing Software Market Opportunity:

Integration with Artificial Intelligence (AI) and Machine Learning (ML)

Combining stroke imaging processing software with AI and ML technologies represents a tremendous possibility for improving diagnostic skills. AI and machine learning systems can evaluate large amounts of image data, detecting subtle patterns and abnormalities humans may miss. This integration improves both the efficiency and accuracy of stroke diagnosis. The American College of radiography® (ACR®), in close collaboration with four other radiography societies worldwide, has produced a joint statement on the development and application of artificial intelligence (AI) tools in radiology. For instance, Philips' AI-enabled MR imaging and Quibim's AI-enabled image analysis tools promise to improve prostate cancer care, reduce personnel shortages, and minimize costs.

Furthermore, UC Davis Health has implemented a new technological platform, Viz.ai, to aid in the rapid identification of patients suspected of having a stroke. The hospital is the first in the Sacramento area to utilize the platform. It uses image-based artificial intelligence (AI) to assess a patient's computed tomography (CT) scan and notify healthcare providers of a probable stroke within minutes. The software adheres to federal patient privacy requirements under HIPAA, allowing the care team to communicate securely.

As a result, the ability to integrate Stroke Imaging Processing Software with AI and ML technologies creates opportunities for more advanced and precise diagnostic tools. As these technologies advance, software can revolutionize stroke imaging analysis, allowing for faster and more accurate diagnosis and better patient outcomes.

Regional Analysis

North America Dominates the Global Market

The global stroke imagine processing software market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America is the most significant global stroke imaging processing software market shareholder and is estimated to grow at a CAGR of 7.7% over the forecast period. North America's early embrace of technology is projected to make it the worldwide market leader during the projection period. Artificial Intelligence (AI) and Machine Learning (ML)-based technologies are causing significant advancements in medical image interpretation across North America. Further, technological improvements, combined with an increase in the incidence of chronic illnesses, are predicted to boost market growth over the forecast period. Factors include increased stroke prevalence, significant patient population growth, and government backing for developing enhanced regional healthcare facilities. According to the CDC, more than 795,000 people in the United States suffer a stroke each year, with approximately 610,000 of those being first or new strokes.

In addition, in the United States, someone suffers a stroke every 40 seconds, and someone dies from one every 3 minutes and 14 seconds. As a result, hospitals and specialized institutes in the United States and Canada increasingly rely on stroke imaging software to detect aneurysms and other vascular conditions. 

Europe is anticipated to exhibit a CAGR of 7.5% over the forecast period. Due to its well-developed healthcare infrastructure, Europe will likely contribute significantly to the worldwide stroke image processing software market during the forecast period. Most European service providers collaborate, form partnerships, and merge to increase their market share. In 2017, the entire economic cost of Stroke in Europe was 60 billion Euros, with the EU's 28 countries contributing 57 billion Euros. The four most populous EU countries, Germany, France, Italy, and the United Kingdom, account for 63% (38 billion Euros) of total costs. 

Additionally, according to the 2023 European Life After Stroke Forum, approximately nine million people in Europe are living with a stroke, with that figure anticipated to rise to 12 million by 2040. To lower the number of strokes, European countries are implementing preventive measures. For example, the Stroke Action Plan for Europe 2018-2030 focuses primarily on stroke research, quality measures, guidelines, and action plans for stroke care solutions. 

In Asia-Pacific, software providers, hospitals, and government groups are all making substantial contributions to delivering current and future directions in stroke picture processing and management to enhance patient outcomes. The Asia-Pacific Stroke Organization (APSO), the Philippine Neurological Association (PNA), the Jiangsu Neurology Association (JNA), and the Hong Kong Stroke Society (HKSS), among others, hold an Asia-Pacific Stroke Conference (APSC) in various nations in the region each year. 

Furthermore, according to a 2022 NCBI article, the estimated burden of Stroke in China by 2050 is 2.19 million more incident cases, 34.27 million prevalent cases, and a 74.62% rise in mortality. However, organized and highly advanced stroke image processing software is restricted and insufficient in developing economies such as China, India, and other Asian countries. One of the primary reasons for the necessity for standardized clinical routes for thrombolysis and other abnormalities is a lack of rehabilitation resources. 

Latin America is predicted to grow as the government adopts new advanced technology and upgrades the region's healthcare infrastructure. Key vendors in the area are forming alliances with prominent businesses and research bodies in the US. However, intraregional collaboration in stroke research has remained minimal in Latin American countries. The lack of public awareness of stroke risk factors in various countries is the primary factor affecting its expansion. 

The Middle East and Africa region is rapidly enhancing pre-hospital care to accommodate the growing number of stroke patients. The process of raising awareness among Dubai's EMS professionals about the pre-hospital identification and management of acute Stroke has begun. CAD, RAPID, and other software for quick and accurate stroke image processing will be rapidly used by hospitals throughout the projected period.

Segmental Analysis

The global stroke imagine processing software market is segmented based on end-user, application, and installation.

The market is further segmented by end-users into Hospitals and Clinics and Scientific Research Institutions.

Hospitals and clinics are the key end-users of Stroke Imaging Processing Software. In these healthcare settings, the software aids in the speedy and precise identification of strokes by analyzing medical imaging data such as CT and MRI pictures. The hospitals and clinics category is predicted to develop at the fastest CAGR, owing to the increasing number of stroke patients and stroke-related therapies each year. Hospitals are well-equipped with cutting-edge imaging technologies and software for testing and treatments. They collaborate with manufacturers and service providers to obtain advanced stroke picture processing software for detecting acute strokes. The restructuring of the global healthcare infrastructure is also predicted to drive segment growth. 

Scientific research institutions are another vital end-user group for Stroke Imaging Processing Software. In these circumstances, the program is used for extensive research, algorithm development, and the progress of stroke-related image analytic approaches. Several scientific research organizations and laboratories formed committees to conduct research projects to improve and eliminate apparent disparities in stroke care. The European Stroke Organization Executive Committee was established in 2007 to begin the accreditation process for stroke imaging units and stroke centers. It also plans future collaborations and research initiatives to develop a sophisticated regional stroke care network. The National Stroke Registry Program (NSRP) was established in 2012, asking neurologists, radiology practitioners, physicians, and public and community health professionals to participate in the research and development of stroke treatment options.

The market can be bifurcated by application into Haemorrhagic Stroke and Ischemic Stroke.

An ischemic stroke occurs when a blockage or clot interrupts blood flow to the brain. Stroke Imaging Processing Software for Ischemic Strokes analyzes imaging data, such as CT scans or MRI pictures, to identify areas of restricted blood flow, ischemic lesions, and impacted brain tissue. The program helps healthcare providers quickly identify ischemic strokes, assess the level of damage, and guide treatment options. According to PMC, the number of ischemic strokes among young individuals is increasing worldwide. Precise analysis aids in the delivery of prompt therapies such as thrombolytic therapy or endovascular operations, improving the odds of recovery for ischemic stroke patients.

Hemorrhagic strokes occur when there is bleeding in the brain, usually due to a broken blood vessel. In the Stroke Imaging Processing Software market, this application evaluates medical imaging data to detect and describe hemorrhages. The program helps healthcare providers determine the location, size, and severity of bleeding, allowing them to make early decisions about surgical procedures or other relevant therapies. Accurate and timely analysis of imaging data from hemorrhagic strokes is crucial for good patient care and outcomes.

Based on the installation, the market is fragmented into Desktops, Mobile Phones, and Tablets.

The Desktop installation component includes Stroke Imaging Processing Software tailored for usage on standard desktop computers. Desktop installations provide mighty processing power, substantial display capabilities, and advanced features ideal for in-depth examination of complicated stroke-related medical imaging data. Healthcare workers, such as radiologists and neurologists, frequently use desktop installations in hospitals or clinics where a dedicated workstation is available. Desktop installations are preferred due to their complete tool sets, high-performance computing capabilities, and ability to handle big datasets, ensuring accurate and detailed stroke-related imaging analysis.

The Mobile Phones and Tablets installation includes stroke imaging processing software for mobile devices. This installation type offers flexibility and mobile access to imaging data, allowing healthcare workers to evaluate and interpret stroke-related pictures on smartphones or tablets. This mobile strategy enables remote consultations, point-of-care diagnostics, and improved coordination among medical teams. Mobile installations support the rising trend of mobile healthcare (mHealth), allowing healthcare practitioners to access imaging data, communicate insights, and make educated decisions regardless of physical location.

Impact of covid-19

As per the data published by the U.S. Tire Manufacturers Association, due to the disruption in the value chain of the automotive industry after the outbreak of the COVID-19 pandemic, in the year 2020, the market of North America witnessed a record low supply of automotive tires. The market registered a sharp decline of 18% as compared to the sales of 2019.

Many manufacturers with a substantial hold on the sales of SSBR tires have listed considerable decrement in their net revenue generation and profit margins. The massive dip in the production and sales of the products are underpinning the weak performance of these companies across the global market. For instance, Bridgestone, a global manufacture of SSBR tiers recorded a reduction in revenue by 11%, with operating profit plummeted almost twice between the first quarters of 2020. Hankook observed a reduction of 20% in its revenue and a reduction of 29% in its profit margin.

The strategic exit of the global market players from the unprofitable markets has accelerated and significantly decreased the development prospects. Additionally, the exits resulted in market consolidation in particular regions affecting the overall performance of the market. The suppliers operating in the market are facing intense cash liquidity issues and retailers are also unable to cope up with the sudden change and volatility in the economic behavior of the market. The entire automotive value chain may succumb to the disruptive situation.

Recent Developments

• February 2024- GE HealthCare showcased Precision Care with the Launch of Elevated LOGIQ Ultrasound System Portfolio at European Congress of Radiology 2024.
• February 2024- GE HealthCare and MedQuest Associates will collaborate to provide innovative medical device technology and digital tools for outpatient imaging centers.
• January 2024- At the 76th Annual Conference of the Indian Radiological and Imaging Association (IRIA) 2024, Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, showcased its strong AI-driven enterprise imaging portfolio, which includes next-generation Ultrasound, MRI, and CT systems.
• November 2023- Canon Medical Systems revolutionized its CT lineup with AI-enhanced advancements.